Michael Brown
Senior Research Strategist
Michael Brown is a seasoned, award-winning market analyst, with a record of providing pertinent commentary, analysis, and forecasting across all major asset classes, principally through a global macro focus, over a decade in the financial services industry. He frequently appears in a wide range of UK and international media, discussing major risk events, key market trends, and broader macroeconomic themes. Michael holds an Executive MBA from Cranfield University.
Most recent articles
Markets Start To Trade An End To The Middle East Conflict
A combination of euphoria, exuberance, and relief has driven a considerable rebound in risk appetite over the last day or so, as hopes grow for a swift end to conflict in the Middle East.
Taking Stock Of The Equity Market Slump: Gauging Where A Turning Point May Lie
Despite a broad-based equity correction driven by geopolitical risk and an energy shock, technical indicators and market positioning suggest a turning point may not yet have been reached.
Preview For The March 2026 US Jobs Report
The first Friday of the month, despite being Good Friday, will nonetheless bring our latest update on the health of the US labour market. While ongoing conflict in the Middle East continues to dominate the narrative, and the subsequent surge in energy prices poses notable upside inflation risks, policymakers and market participants alike will no doubt continue to pay close attention to the jobs report, particularly after a substantial downside surprise in the February figures.
Five Market Takeaways From Another Hectic Week Of Geopolitical Headlines
Amid intense geopolitical headlines, markets are balancing de-escalation signals, disrupted energy flows, and a recalibration of central bank policy expectations.
Equities Look Through The Noise As A ‘Trump Put’ Potentially Emerges
Markets are stabilising despite ongoing Middle East conflict, with de-escalation signals and the re-emergence of the ‘Trump put’ helping to anchor risk sentiment.
This Energy Price Shock Isn’t Like The Last One
Markets are treating the latest energy shock as a repeat of 2022, but weaker growth, tighter monetary policy, and greater labour market slack point to limited risks of inflation persistence and a different central bank reaction function.
TACO Time, Again - Trump Seeks To De-Escalate Middle East Conflict
Via Truth Social, President Trump has announced a 5-day pause in strikes on Iranian energy infrastructure, and talks with the nation aimed at a 'complete and total' resolution to the conflict, sparking a violent risk-on market reaction.
A Monetary Policy Mistake May Be On The Horizon
G10 central banks risk a policy mistake as hawkish rhetoric clashes with weak growth and limited second-round inflation risks from the energy shock.
March 2026 ECB Review: In ‘Wait & See’ Mode
The ECB stood pat at the March meeting, as expected, while adopting a ‘watch and wait’ approach amid elevated geopolitical uncertainty.
March 2026 BoE Review: Energy Shock Forces ‘Old Lady’ To Stand Pat
The Bank of England’s Monetary Policy Committee voted unanimously to hold Bank Rate steady at the conclusion of the March MPC meeting, while delivering an overall hawkish message, that casts doubt on the possibility of further rate cuts this year.
March 2026 FOMC Review: Watching & Waiting
The FOMC stood pat at the March meeting, as expected, adopting a ‘wait and see’ approach amid heightened geopolitical uncertainty, though rate cuts remain a possibility later in the year, assuming renewed disinflationary progress begins to be made.
Cross-Asset Correlations Remain At 1 With Crude Still In The Driving Seat
With Hormuz disruptions persisting, crude remains the primary market driver, sustaining tight cross-asset correlations and cautious risk positioning.
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1. Data for the Pepperstone Group, correct as at October 2025.